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CATY - Cheap Cathay General Bancorp Offering High Dividend Yield
Cathay General Bancorp
Cathay General Bancorp's (CATY) 3QFY19 results showed that the operating environment for loan growth is tougher than I previously anticipated. Due to this new information, I'm revising downward my estimate for loan growth, and consequently my forecast for earnings in 2020. However, I'm expecting dividend growth to remain intact due to a comfortable payout ratio.
Reducing Loan Growth Assumption
I'm revising down my expectation of loan growth in 4QFY19 as the management has reduced their guidance to 6% to 7% for 2019 from the previous guidance of 7% to 8%. As mentioned in